Loomis Sayles & Co. L P Invests $7.08 Million in Cogent Communications Holdings, Inc. (NASDAQ:CCOI)

Loomis Sayles & Co. L P bought a new stake in Cogent Communications Holdings, Inc. (NASDAQ:CCOI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 91,910 shares of the technology company's stock, valued at approximately $7,084,000. Loomis Sayles & Co. L P owned about 0.19% of Cogent Communications as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Cogent Communications by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 5,114,596 shares of the technology company's stock valued at $394,182,000 after acquiring an additional 43,523 shares during the last quarter. LPL Financial LLC raised its stake in shares of Cogent Communications by 7.8% during the fourth quarter. LPL Financial LLC now owns 44,066 shares of the technology company's stock worth $3,396,000 after purchasing an additional 3,198 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Cogent Communications during the fourth quarter worth $709,000. Hillsdale Investment Management Inc. purchased a new position in Cogent Communications in the 4th quarter valued at $46,000. Finally, American Century Companies Inc. acquired a new position in Cogent Communications in the 4th quarter valued at $281,000. Institutional investors and hedge funds own 92.45% of the company's stock.

Insider Buying and Selling

In other news, VP Henry W. Kilmer sold 2,400 shares of Cogent Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $72.57, for a total transaction of $174,168.00. Following the completion of the sale, the vice president now directly owns 41,000 shares in the company, valued at $2,975,370. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thaddeus Gerard Weed sold 4,900 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $72.06, for a total transaction of $353,094.00. Following the transaction, the chief financial officer now directly owns 103,000 shares in the company, valued at $7,422,180. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,681 shares of company stock worth $840,878 in the last ninety days. Insiders own 11.40% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Cogent Communications to a "sell" rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $80.25.

Cogent Communications Price Performance

Shares of NASDAQ CCOI traded down $2.43 during trading on Thursday, hitting $59.22. 129,543 shares of the company were exchanged, compared to its average volume of 434,886. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 75.92 and a beta of 0.45. Cogent Communications Holdings, Inc. has a 1 year low of $50.80 and a 1 year high of $86.76. The firm's fifty day moving average price is $73.49 and its 200 day moving average price is $76.35. The company has a debt-to-equity ratio of 5.87, a current ratio of 2.03 and a quick ratio of 2.03.

Cogent Communications (NASDAQ:CCOI - Get Free Report) last posted its earnings results on Thursday, February 27th. The technology company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.31. Cogent Communications had a negative return on equity of 36.31% and a net margin of 3.73%. The company had revenue of $252.29 million for the quarter, compared to analyst estimates of $258.49 million. On average, sell-side analysts expect that Cogent Communications Holdings, Inc. will post -4.55 earnings per share for the current fiscal year.

Cogent Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 13th were paid a dividend of $1.005 per share. This represents a $4.02 dividend on an annualized basis and a dividend yield of 6.79%. This is a boost from Cogent Communications's previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 13th. Cogent Communications's dividend payout ratio (DPR) is -93.49%.

Cogent Communications Profile

Cogent Communications Holdings, Inc, through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services in North America, Europe, Oceania, South America, and Africa. The company offers on-net Internet access and private network services to law firms, financial services firms, and advertising and marketing firms, as well as heath care providers, educational institutions and other professional services businesses, other Internet service providers, telephone companies, cable television companies, web hosting companies, media service providers, mobile phone operators, content delivery network companies, and commercial content and application service providers.